Susquehanna analyst Christopher Rolland lowered the firm’s price target on Wolfspeed (WOLF) to $58 from $60 and keeps a Neutral rating on the shares following a financing deal with Apollo (APO). Given the cost of the funding, the firm wonders whether Wolfspeed will reverse course on their intention to build their Saarland, Germany, fab, telling investors in a research note that the economic feasibility of this facility is significantly more challenging.
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